Repurposed Warehouse in Downtown
For Sale
Contact for pricing
610 S Park Ave, Tucson, AZ 85719
Mixed-use property with multiple income streams in booming downtown.
Property Size21,094 SF
Price / SF$141.75
Days on Market1146
Property Features for 610 S Park Ave
General Information
Standard status
Active
Size
21,094 SF
Total Parking Spaces
14
Property subtype
Industrial, Mixed Use, Office, Special Purpose
Zoning
I-1 City of Tucson
Occupancy
100%
Lease Type
Gross
Investment Type
Owner/User
Site & Location
Neighborhood
Millville
Building Details
Year Built
1954
Year Renovated
2014
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
ArizonaFirst Properties
Listed By:
Tom DeSollar · License #LC560763000
(520) 400-2732
Source:
Crexi
Added: Sep 4, 2023
Changed: Oct 7
Last Checked: Oct 23 at 4:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ArizonaFirst Properties
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Investment Insights
Based on property information with market context.
This mixed-use property features a repurposed 21,094 square foot warehouse originally built in the 1950s, situated in the thriving downtown area of Tucson, Arizona. The location is convenient to hotels, entertainment venues, and restaurants. The property is currently configured to generate income from multiple sources. One income stream comes from co-working offices and executive suites, which are tastefully decorated and furnished with a railroad theme. These spaces are equipped with fiber optic internet and secured access. Another income source is a long-term industrial manufacturing operation that produces custom furniture and window coverings. The third income stream is generated by a successful event center located in the center of the building, known as the Rail Yard. This center hosts weddings, class reunions, family events, business conferences, and training sessions. All furniture, fixtures, and equipment are included in the offering.
Key Highlights
- Three income streams: co‑working offices/executive suites, industrial manufacturing tenant, and event center.
- Prime downtown Tucson location near hotels, entertainment, and restaurants.
- Repurposed 21,094 SF warehouse with a unique, tastefully decorated interior.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$259,140
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,182,800
$5.2M
Cap Rate 7%
$3,702,000
$3.7M
Cap Rate 9%
$2,879,333
$2.9M
Market Conditions
NOI Build-Up for 21,094 SF
Gross rent
$455.6K $21.60/SF
− Vacancy
−$41.0K −$1.94/SF
EGI
$414.6K $19.66/SF
− OpEx
−$155.5K −$7.37/SF
NOI
$259.1K $12.29/SF
Area
Tucson, AZ
Vacancy
9.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,182,800
Cap Rate 7%
$3,702,000
Cap Rate 9%
$2,879,333
Alternative Uses
Best Use
Office B
$4.40M
$3.85M – $5.14M
NOI $308,234 @ 7.0% cap · market cap 10.31%
Second Best
Mixed Use
$3.70M
$3.24M – $4.32M
NOI $259,140 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$5.48M
$4.79M – $6.39M
NOI $383,580 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,429
Businesses Nearby
Explore this area
Business Placement
Demographics for 85719, AZ
46,242
Population
21,707
Households
2.1
Avg Household Size
27
Median Age
46%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
5,780
Density / Sq Mi
$41,086
Median Household Income
$17,430
Median Earnings
$1,051
Median Rent
$266,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Tucson, AZ
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with multiple income streams in booming downtown.
Where is this mixed-use property located?
The property is located at 610 S Park Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: Three income streams: co‑working offices/executive suites, industrial manufacturing tenant, and event center.; Prime downtown Tucson location near hotels, entertainment, and restaurants.; Repurposed 21,094 SF warehouse with a unique, tastefully decorated interior.
